Friday, April 13, 2012

BAILOUT BABY, MILLIONAIRE WHO SUPPORTS HIGHER TAXES INVESTED IN COMPANIES THAT RECEIVED BILLIONS IN TAXPAYER MONEY

Why is it that the biggest supporters of higher taxes are also the biggest recipients of corporate welfare?

An ultra-wealthy hedge-fund manager who is supporting President Obama’s effort to raise taxes on 4,000 millionaires is heavily invested in companies that benefitted from taxpayer-funded bailouts.
Whitney Tilson’s T2 Partners hedge fund, which oversees more than $262 million, holds sizeable positions in the big banks that were bailed out with taxpayer funds in 2008 under the Troubled Asset Relief Program (TARP).
According to the most recent filing with the Securities and Exchange Commission, Tilson’s fund owns a combined $42.8 million worth of stock in Bank of America, Citigroup, Goldman Sachs, JP Morgan Chase, and Wells Fargo, all of which received tens of billions in taxpayer dollars through TARP.